China should channel its high level of savings from banks to the stock market in order to avoid risks to the financial system and further develop the capital markets, according to central bank adviser Li Daokui.
Steve Francis , a three-time all-star National Basketball Association player, has signed a one-year contract to play for the Beijing Shougang Basketball Club, the Beijing Youth Daily newspaper reported today, citing Yuan Chao, a vice president for the team.
North Korean leader Kim Jong Il and China’s top diplomat “reached important consensus” today on issues of the Korean peninsula, where tensions have heightened since the North’s attack on South Korean soil.
China’s top economic planner ordered Wal-Mart Stores Inc. and Carrefour SA to be fined for misleading pricing at some of their stores in the nation, as the government works to rein in rising prices for consumer goods.
China may cut export quotas for rare earth minerals by as much as 30 percent next year to prevent overexploitation, the China Daily reported, citing an unidentified official from the Ministry of Commerce .